Unemployment Insurance Claims – Down to 353,000, bottom-near since April 2008 – But is it only volatility ?

Unemployment Insurance Weekly Claims Report

In the week ending July 21, the advance figure for seasonally adjusted initial claims was 353,000, a decrease of 35,000 from the previous week’s revised figure of 388,000. The 4-week moving average was 367,250, a decrease of 8,750 from the previous week’s revised average of 376,000.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending July 14, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending July 14 was 3,287,000, a decrease of 30,000 from the preceding week’s revised level of 3,317,000. The 4-week moving average was 3,309,000, a decrease of 3,750 from the preceding week’s revised average of 3,312,750…

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

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Jobless Claims in U.S. Decrease, Extending July Volatility 

Fewer Americans than forecast filed first-time claims for unemployment insurance payments last week. Applications for jobless benefits decreased by 35,000 in the week ended July 21 to 353,000, Labor Department figures showed today. Durable goods orders rose 1.6 percent in June, a Commerce Department report showed today in Washington. Betty Liu, Dominic Chu and Sara Eisen report on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Applications for jobless benefits decreased by 35,000 in the week ended July 21 to 353,000, Labor Department figures showed today. Economists forecast 380,000 claims, according to the median estimate in a Bloomberg News survey. Changes in the annual auto plant shutdowns that occur this time of year have made it difficult to adjust the data for seasonal variations, the Labor Department has said.

Statistical noise aside, slowing economies in Europe and China, which have reduced global demand for goods, may continue to curb employment. The U.S. presidential election and a looming battle over tax cuts and government spending may also be making businesses reluctant to hire.

“All in all, the labor market is gradually healing,” said Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pennsylvania. “We’ve got to take this report with a grain of salt. The jobs market is still tough and we’re setting ourselves up for a soft second half of the year.”..

via Jobless Claims in U.S. Decrease, Extending July Volatility – Bloomberg.

Source: Job Market Monitor from FRED